which industry is called the basic industry ? steel industry, cement industry IT industry , iron industry
Answers
Explanation:
Iron and steel industry is called the basic industry due to following reasons: All industries whether heavy, medium or light depend on it for the machinery. Thus, it provides base to the other industries. Steel is required for manufacturing variety of engineering, construction and defence goods.
Answer:
==>Iron and steel industry
Iron and steel industry is called the basic industry due to following reasons: All industries whether heavy, medium or light depend on it for the machinery. Thus, it provides base to the other industries. Steel is required for manufacturing variety of engineering, construction and defence goods.
Explanation:
==>basic industry. noun [ C ] PRODUCTION, ECONOMICS. a type of industry that produces materials that are supplied to other industries, and which is important in a country's economy: basic industries such as mining, oil, and gas.
==>Basic industries are which supply their products or raw materials to manufacture other goods. Examples: Iron and steel, copper smelting and aluminium smelting industries.
==>The reasons why Iron and steel industry is called a basic industry are as follows: i) Most of the small and medium industries depend on the Iron and Steel Industry. ii) Heavy engineering tools are made up of Iron and Steel. iii) This industry provides employment to a large number of people.
==>Iron and steel industry is called the basic industry due to following reasons: All industries whether heavy, medium or light depend on it for the machinery. Thus, it provides base to the other industries. Steel is required for manufacturing variety of engineering, construction and defence goods.
==>When there is an equilibrium of supply and demand and the supply exceeds the demand, it is required to increase infrastructure investment, boost investment in the development of basic industries, increase living consumption funds of individuals and households, and stimulate the development of living consumption; when .